what is the difference between accounts and finance.
Answer Posted / rana
Accounting: Accountant’s (sometimes called: Controller)
primary function is to develop and provide data measuring
the performance of the firm, assessing its financial
position, and paying taxes. The accountant is responsible
for preparing financial statements such as the income
statement, balance sheets, and cash flows. It is normally
passive work, in the sense that, the work has a very
independent nature to it such as preparing forms and
financial statements. It is a good job for people who want
to work independently and are very organized (this is only
a very brief description, if you are interested in
accounting, consult your accounting instructor for more
information).
Finance: The financial manager or consultant places primary
emphasis on decision making. It uses the financial
statements prepared by accountants to make decisions about
the firm’s financial condition and to advise others about
possible losses and profits. In some cases, finance is more
a type of leadership position. A financial manager has to
deal not only with finance, but also with economics,
accounting, statistics, math, and management. For example,
people working with stocks and bonds have to understand and
analyze how the underlying companies are performing. How a
given company is going to perform during recession? Should
they sell or buy stocks or bonds. How a decrease in the
interest rate in England may affect the projects a company
has in that country. Finance also deals a lot with risk.
Derivative securities (options, futures, swaps, etc) are
used to hedge against possible increase in risk. Risk
managers are in great demand everywhere. Most finance
majors find jobs in banks and other financial institutions,
government, real estate, consultant companies, insurance,
investment companies, stock market exchanges, fundraising,
and any firm that needs someone to make financial decisions.
Is This Answer Correct ? | 27 Yes | 6 No |
Post New Answer View All Answers
What Is Non-traditional Options?
What is TDR/ STDR?
What is liquid ratio?
Can you tell basic difference between devaluation and depreciation of the currency?
What are your views on Kashmir issue?
Tell something about open market operations?
Do you think banks play a role in women empowerment? Justify your stand.
What do you know about PACs?
Is the Indian economy in the developing, underdeveloped or the developed state?
What Is Efficient Market Hypothesis?
How will you find out the misappropriation in accounts?
Share your views on India 2020?
How can rural employment be increased?
What are different types of kiosks that banks have introduced besides ATMs?
How many types of organizations we can establish in India?